The acquisition of AAM Advisory demonstrates Old Mutual Wealth’s long-term commitment to the Singapore region and to the financial advice market.
AAM Advisory will continue to operate separately from Old Mutual Wealth’s existing businesses in the region, Old Mutual International and Old Mutual Global Investors.
Paul Feeney, CEO, Old Mutual Wealth:
“We see great potential in AAM Advisory which provides clients in Singapore with professional, competent and reliable advice. We have been working with AAM since 2009 and the speed at which this deal has completed is testament to the way our businesses are aligned with one another.
“Our strategy is to develop a multi-channel advice business and grow deeper routes in our core markets. We remain committed to Singapore and to servicing the wider financial advice market.”
Matthew Dabbs, CEO, AAM Advisory:
“We are looking forward to being part of Old Mutual Wealth and benefiting from their financial strength, experience in supporting advice and distribution, and their in-house expertise in investment research which complements the success of AAM’s. This is an exciting opportunity for our business and together we will continue to build a strong advisory business focused on providing positive solutions for our clients.”
Old Mutual Wealth has a strong presence in Asia, with Hong Kong and Singapore considered core growth markets for the business.
- Old Mutual International has an established office in both Hong Kong (since 1991) and Singapore (since 2008) and is a market leader in its respective segments.
- Old Mutual Global Investors has significant experience in the Asian market having been present in the region (Hong Kong) for over 12 years.